---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-020888"
form_type: "8-K"
ticker: "NCPL"
cik: "0001414767"
company_name: "Netcapital Inc."
filed_at: "2026-05-01T23:59:59+00:00"
generated_at: "2026-05-15T00:16:59.701429+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Netcapital raises $275K via convertible notes and related-party note for working capital

## Summary
- Two convertible notes issued to Vanquish Funding for $144,550 aggregate principal, purchase price $125,000 (OID $19,550).
- Bridge note: $92,800 principal, 14% interest, matures Feb 2027; Promissory note: $51,750, 12% interest, matures Feb 2027.
- Also issued $300,000 non-convertible note to related party Netcapital Systems LLC for $150,000 (50% OID), 8% interest, matures Sep 2026.
- Notes are unregistered, sold under Section 4(a)(2) and Regulation D; proceeds used for general working capital.
- Default interest at 22% (convertible notes) and 20% (related-party note); notes prepayable without penalty.

## SEC filing metadata
- accession: 0001493152-26-020888
- form_type: 8-K
- ticker: NCPL
- cik: 0001414767
- company_name: Netcapital Inc.
- filed_at: 2026-05-01T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1414767/000149315226020888/0001493152-26-020888-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1414767/000149315226020888/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-020888
- JSON: https://secwatch.observer/filing/0001493152-26-020888.json
- Plain text: https://secwatch.observer/filing/0001493152-26-020888.txt

## Source-grounded claims
- claim_id: d64da7e9c58d7c3710e8007103f917c1857c908e
  claim: Netcapital Inc. incurred loan of $300,000 with Netcapital Systems LLC at 8% per annum maturing September 30, 2026.
  evidence_excerpt: On April 30, 2026, the Company also issued one unsecured, non-convertible promissory note in the total principal amount of $300,000, for gross proceeds of $150,000, reflecting a 50% original issue discount.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1414767/000149315226020888/0001493152-26-020888-index.htm
- claim_id: eff5ffcd1b79004d336b9b12a40b7724367c03b3
  claim: Netcapital Inc. incurred loan of $144,550 with Vanquish Funding Group Inc. at 14% maturing February 28, 2027.
  evidence_excerpt: On April 26, 2026, Netcapital Inc. (the “Company”) entered into two Securities Purchase Agreements with Vanquish Funding Group Inc., a Virginia corporation, pursuant to which the Company issued two promissory notes in the aggregate principal amount of $144,550 for an aggregate purchase price of $125,000, reflecting an aggregate original issue discount of $19,550.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1414767/000149315226020888/0001493152-26-020888-index.htm
- claim_id: 66df8a2c1a6bd5510eda5c453bd54ee20e791422
  claim: Netcapital Inc. entered into Securities Purchase Agreements with Vanquish Funding Group Inc. valued at aggregate principal amount of $144,550 (effective 2026-04-26).
  evidence_excerpt: On April 26, 2026, Netcapital Inc. (the “Company”) entered into two Securities Purchase Agreements with Vanquish Funding Group Inc., a Virginia corporation, pursuant to which the Company issued two promissory notes in the aggregate principal amount of $144,550 for an aggregate purchase price of $125,000, reflecting an aggregate original issue discount of $19,550.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1414767/000149315226020888/0001493152-26-020888-index.htm
- claim_id: aad6b7e97399453b3db0e9f30f5610f373d4d1de
  claim: Netcapital Inc. entered into a credit facility with Netcapital Systems LLC valued at total principal amount of $300,000 (effective 2026-04-30).
  evidence_excerpt: On April 30, 2026, the Company also issued one unsecured, non-convertible promissory note in the total principal amount of $300,000, for gross proceeds of $150,000, reflecting a 50% original issue discount.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1414767/000149315226020888/0001493152-26-020888-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.